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The Indian interior products market is expected to grow at the fastest CAGR of 11.34% to 2016 amongst the BRIC nations, as per a report published by BRICdata reports.

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The strong growth in India is supported by the nation’s rising disposable income levels and rapid expansion of domestic real estate, construction and hospitality industries. The industry is expected to reach a value of $48.5 billion by 2016. The furnishings product market is expected to be the biggest contributor to this growth.

The Russian interior products market is also expected to grow at a significant CAGR of 10.1% over the forecast period. The Russian government’s initiative to construct residential places in addition to the expected boost in the hospitality industry from the major international sporting events that the country will host in the near future are expected to boost the interior products market.

The Brazilian interior products market is expected to continue its recovery after registering negative growth rates in 2008 and 2009, supported by Brazil’s real estate, construction and tourism industries. Brazil’s current housing deficit of nearly 7.9 million units is also expected to boost the residential construction market and hence the interior products market.

The Chinese interior products market is expected to record a CAGR of 6.37% to reach a projected value of $245.8 billion in 2016.

The full report ‘BRIC Interior Products: Market Opportunities and Future Growth Prospects’ is available from BRICdata. Click here for more details